Hey there, I'm ting and let's dive right into the latest on the US China tech war. Over the past two weeks, things have escalated quickly. Let's start with the cybersecurity incidents. The People's Republic of China PRC has been busy with a state sponsored cyber attack on the US Treasury Department. This breach, likely aimed at gathering intel on US sanctions on Chinese exports, is just the tip of
the iceberg. The Salt Typhoon Group, a Chinese state backed hacker group, has breached nine US telecommunications providers, giving the Chinese government broad access to Americans data and the capability to geolocate millions of individuals two five. But that's not all. China has also imposed export controls on twenty eight US companies, including defense giants Lockheed Martin and Boeing Defense, in retaliation for US restrictions on Chinese access to critical and emerging technologies.
This move signals Beijing's willingness to fight US trade fire with fire, especially with Donald Trump set to resume the presidency and his promise of tougher stances on China ie. The US, on the other hand, has ramped up restrictions on China's access to chip making equipment and software essential for semiconductor development, adding one hundred and forty Chinese companies
to the export control list. China has countered by banning chips from US companies like Micron in its sensitive sectors and releasing an export control list of dual use items aimed at creating a consolidated list for Expert analysis suggests that these escalations are part of a broader strategy. David Sedney, former Deputy Assistant Secretary of Defense, notes that the Chinese want to be prepared for what the Biden administration does in its closing days and what the Trump administration does
starting on January twentieth. He warns that the attacks are likely to grow in scope and sophistication. Looking ahead, the implications are signific. The global economy is already grappling with inflationary pressures, energy and security, and the specter of war. A renewed escalation in trade tensions between the world's two largest economies could exacerbate these challenges, dragging other nations into
the fray as collateral damage. In conclusion, the past two weeks have seen a dramatic escalation in the US China tech war, with both sides employing new restrictions and cyber attacks. As we move forward, it's clear that this rivalry will continue to shape the global economic landscape with no end in sight. Stay tuned, folks, it's going to be a wild ride. Thanks for listening. Make sure you hit the subscribe button and never miss an update. This has been
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